SM at a glance
SM Energy Co (SM, SEC CIK 893538) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on September 4, 2026 and Form 4 insider filings as recently as September 11, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), SM Energy Co (SM) reported revenue of $3.2 billion (up 17.2% from FY2024) and net income of $648.0 million. Diluted EPS was $5.64.
- As of June 30, 2026, 32 institutional investment managers tracked by SignalX reported holding SM Energy Co (SM) shares worth $3.0 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Venkatraman Ashwin on September 10, 2026 of 3,650 shares at $38.28 per share.
- In the last 90 days, SM insiders reported 0 open-market purchases ($0) and 2 open-market sales ($788K) on Form 4, a net sale of $788K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $3.2B
- +17.2% vs prior year
- Insiders · 90 days
- 0 buys · 2 sells
- Net −$788K
- 13F holders
- 32 funds
- $3.0B · +2 vs prior quarter
- Latest 8-K
- Sep 4, 2026
- Item 1.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Risk Factors
- Proved reserve estimates declined 56.2 MMBOE in 2025, increasing DD&A expense and impairments
- Commodity price sensitivity: 10% SEC price decrease leads to 18.4 MMBOE (3%) reserve reduction
- Reserve removals of 40.7 MMBOE due to undeveloped reserves dropped from five-year plan impacting production
- SEC pricing $65.34/Bbl oil, five-year NYMEX average $58.72/Bbl risks valuation and reserve estimates
- Volatile commodity prices and imprecise reserve estimates cause unpredictable earnings and impairment risk
Management Discussion & Analysis
- Revenue and reserves growth: Total net proved reserves increased to 678.3 MMBOE in 2024 from 604.9 MMBOE in 2023, driven by 103.2 MMBOE acquisition in Uinta Basin
- Margin impact: Standardized measure of discounted future net cash flows decreased to $5,956M in 2025 from $7,268M in 2024, reflecting lower prices and higher costs
- Best segment: Oil reserves grew from 230.1 MMBbl in 2023 to 296.0 MMBbl in 2024, supported by acquisitions and discoveries; worst segment: Gas prices declined to $1.86/Mcf in 2024 from $2.52/Mcf in 2023
- Cash flow/capital allocation: Production costs and development costs rose to $10,480M and $3,235M in 2024; no specific buyback or dividend data disclosed in excerpt
- Forward outlook: Management notes risks from price volatility, capital reallocation impacts, and potential impacts on future development plans
AI summary of the SM 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- South Texas Divestiture completed April 30, generating $896 million net cash proceeds
- Merger issued 124 million shares, representing 52% of post-closing shares; stock consideration valued at $2.4 billion
- Near-term focus on post-Merger integration, free cash flow maximization, and balance-sheet strengthening
- Divestiture proceeds enabled debt reduction and capital-structure strengthening
Risk Factors
- No material risk-factor changes from the 2025 Form 10-K
- Carried-forward regulatory and legal risks unchanged from the 2025 Form 10-K
- Carried-forward operational and commodity-market risks unchanged from the 2025 Form 10-K
- Carried-forward liquidity and debt risks unchanged from the 2025 Form 10-K
AI summary of the SM 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 1.02: Termination of a Material Definitive Agreement
- SM Energy redeemed all $416.791 million outstanding 6.625% Senior Notes due 2027 on September 4, 2026
- Cash payment included accrued and unpaid interest, creating a near-term liquidity outflow
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 financial and operating results announced August 5, 2026
- Results detailed in furnished Exhibit 99.1, requiring review for financial metrics and guidance
Item 7.01: Regulation FD Disclosure
- Full redemption of $416.791 million 6.625% Senior Notes due 2027 announced August 5, 2026
- Redemption price at 100.0% of principal plus accrued and unpaid interest
Item EX-99.1: Item EX-99.1
- Q2 revenue $2.50B and net income $1.071B, boosted by a $262M South Texas divestiture gain and derivative valuation gains
- Adjusted EBITDAX $1.406B and adjusted free cash flow $467M, supporting debt reduction and shareholder returns
Item 2.02: Results of Operations and Financial Condition
- Preliminary Q2 2026 realized prices: oil $96.85/Bbl, gas $0.17/Mcf, and NGLs $24.69/Bbl before derivatives
- Derivative settlements reduced oil realization to $80.62/Bbl but increased gas to $1.54/Mcf and NGLs to $24.83/Bbl
AI summaries of SM 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for SM
Don't miss the next SM filing
- Alerts as it files. A push when SM files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut SM, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Venkatraman Ashwin | Sell | Sep 10, 2026 | 3,650 | $38.28 |
| Lebeck James Barker | Sell | Aug 21, 2026 | 17,500 | $37.02 |
| PURSELL A WADE | G | Aug 21, 2026 | 5,000 | - |
| Lebeck James Barker | F | Jul 24, 2026 | 3,291 | $26.10 |
| Bennett Alan D | A | Jul 24, 2026 | 7,288 | - |
| Lebeck James Barker | M | Jul 24, 2026 | 7,520 | - |
| PURSELL A WADE | M | Jul 24, 2026 | 16,917 | - |
| PURSELL A WADE | F | Jul 24, 2026 | 7,403 | $26.10 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $2.4B | $2.7B | $3.2B |
| Operating Income | $986.9M | $1.1B | $1.0B |
| Net Income | - | $770.3M | $648.0M |
| Op. Margin | 41.6% | 40.0% | 31.7% |
| Net Margin | - | 28.6% | 20.5% |
| Balance Sheet | |||
| Total Assets | $6.4B | $8.6B | $9.3B |
| Equity | $3.6B | $4.2B | $4.8B |
| ROE | - | 18.2% | 13.5% |
| Per Share | |||
| EPS | $6.86 | $6.67 | $5.64 |
| Cash Flow | |||
| Operating CF | $1.6B | $1.8B | $2.0B |
Source: XBRL data in SM Energy Co (SM)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate SM share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 32 | $3.02B |
| Q1 2026 | 30 | $3.64B |
| Q4 2025 | 29 | $1.21B |
| Q3 2025 | 31 | $1.79B |
| Q2 2025 | 31 | $1.69B |
| Q1 2025 | 28 | $1.55B |
| Q4 2024 | 27 | $1.59B |
| Q3 2024 | 24 | $959.9M |
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- Dimensional Fund Advisors−1.82M (-18%)
- State Street Corp−790.1K (-6%)
- Morgan Stanley−568.0K (-16%)
- Millennium Management−539.4K (-11%)
- JPMorgan Chase & Co−516.5K (-13%)
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- Mangrove Partners−18.3K
Source: 13F-HR filings on SEC EDGAR (aggregated from 232 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
SM filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 11, 2026 | - | - | - |
| 8-K | Sep 4, 2026 | - | Analysis | - |
| 4 | Aug 24, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| SC 13G | Aug 14, 2026 | - | - | |
| SC 13G | Aug 7, 2026 | - | - | |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 4 | Jul 24, 2026 | - | - | - |
| 4 | Jul 24, 2026 | - | - | - |
| 4 | Jul 24, 2026 | - | - | - |
| 4 | Jul 24, 2026 | - | - | - |
| 4 | Jul 24, 2026 | - | - | - |
| 8-K | Jul 16, 2026 | - | Analysis | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 8-K | Jun 1, 2026 | - | Analysis |
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SM SEC filings: frequently asked questions
Are SM insiders buying or selling?
In the last 90 days, SM Energy Co (SM) officers, directors and 10% owners reported no open-market purchases and 2 open-market sales worth $787,572 by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold SM stock?
As of June 30, 2026, the largest SM Energy Co (SM) holders among the 13F filers tracked by SignalX were BlackRock ($1.0 billion), Vanguard Portfolio Management LLC ($402.6 million), State Street Corp ($305.5 million), Vanguard Capital Management LLC ($278.2 million), Dimensional Fund Advisors ($213.4 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was SM's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), SM Energy Co (SM) reported revenue of $3.2 billion (up 17.2% from FY2024) and net income of $648.0 million. Diluted EPS was $5.64. The figures come from the XBRL data in the 10-K.
What are the main risks in SM's latest 10-K?
In the 10-K filed February 26, 2026, SM Energy Co (SM) flagged: Proved reserve estimates declined 56.2 MMBOE in 2025, increasing DD&A expense and impairments. Commodity price sensitivity: 10% SEC price decrease leads to 18.4 MMBOE (3%) reserve reduction. (AI summary of the Risk Factors section.)
What did SM report in its latest 8-K?
SM Energy Co (SM) filed an 8-K on September 4, 2026 reporting Item 1.02 (Termination of a Material Definitive Agreement). SM Energy redeemed all $416.791 million outstanding 6.625% Senior Notes due 2027 on September 4, 2026.
What are the latest SM SEC filings?
SM Energy Co (SM) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on September 4, 2026 and a Form 4 insider filing on September 11, 2026.
What is SM's SEC CIK number?
SM Energy Co (SM)'s SEC Central Index Key (CIK) is 893538. EDGAR lists every SM filing under that number.
Ask anything about SM
The research agent reads SM's filings, financials, insider trades and 13F holders, then answers with sources.